Member Info for Marmited

Regarding the timing of PEL 94 going up for farm out, we haven't had time to access the licence and identify the prospects. We haven't had a report as to what those prospects are..

Sounds like something is driving events to me?

We'll see soon enough!

If it is seapulse in the wings, they've got the finance (Seacrest), they've got the driller (Maersk), they've got the farm in partner/developer (Enquest) now in place. All they need do now is sort the licences/prospects that they want..

MME and the Company must have agree that circumstances are dictating otherwise as it is clear as day that this legal document has altered the wording.

We just don't know why yet..

Adding PEL 94 for farming out is new and i'm not sure if the timing of this is as expected or not?

There is a striking difference which has been pointed out with the 29 work agreement announcement. The differences are below.

2018 Half Yearly Report - 14th March 2018

The minimum work commitment for the one year extension of Phase 2 is the acquisition of 600 square kilometres of 3D seismic which is contingent on the Company concluding a farm-out agreement with a third party to fund the acquisition of the 3D data. The 3D acquisition can be carried over into Phase 3 in the event that it is not competed within the Phase 2 extension period. During Phase 3, the commitment is to drill a well (depth and location to be agreed) unless the MME and the Company agree that circumstances dictate otherwise.

Half Yearly Report - 14 March 2019

In Addition, and carried over from the First Renewal Period (Phase 2) extension, is the acquisition of 600 sq km of 3D data - CONTINGENT upon the company concluding a farmout and drilling one exploration well, depth and location yet to be agreed.

mmm, interesting! good spot.

Phil Loader - Director / Advisor to AziNam/Seacrest Capital too.

Cheers for that. I suppose IF we are to be involved, the first news will be an RNS regarding sea pulse taking a position within our company?

I wonder if he learnt the fault column possibilities at Paul Howletts recent presentation.. ha! ;-)

Interesting to hear about having 1 main prospect with 2 or 3 additional prospects/leads to open up a fairway. I assume this is a basic model for companies? So,for example.. Gemsbok, Lion, Dik Dik, Choje in 29?

Interesting interview dated 11th March which removes Africa Energy from our picture here. He talks about PEL 37, timed at 33 mins.

Confirms biggest risk in their Namibian prospects is migration. No mention where it went ;-) waiting for nearby prospects to be drilled, for example North/Osprey, South Maurel & Prom/Exxon. No mention of sea pulse as expected...

Also timed at 42 mins, even very small faults of 10m can produce 300m oil columns.

https://www.facebook.com/AXExposure/videos/2308952199125057/

Do we really think all these companies will simply ignore the lateral migration issue announced by Africa Energy?

"However am sure there would be data sharing and maybe even with Eco "

Nice post J and what a point well made in the above. Africa Energy/oil is the link surely? They had an interest in PEL 37 Cormorant via Pancontinental, they have a link in PEL 30 via ECO which Azinam are involved in. Azinam will know the reasons for Tullow leaving PEL 30 due to the Cormorant result in PEL 37.

It is a web, but one linked web none the less.

The information web : Africa Oil, Africa Energy, ECO, Azinam, Sea Crest, Sea Pulse and not forgetting Namcor.

Interesting - Only 2D required with Typhoon..

AUSTRALIA
As the largest shareholder in Cabot Energy (formerly Northern Petroleum), and its joint venture partner in the Otway basin onshore geological trend, H2P has direct, indirect and options in up to 65% interest in a 5,800km2 onshore shale-oil licence. The Otway basin is Australia's second most prospective oil and gas province. These licences are being evaluated for exploration via a 2D seismic acquisition in 2018 and drilling in 2019.

https://www.ipulse-group.com/Oil_Exploration_Production

The firm additional work programme consists of various studies, including mapping of source rock,
mapping of contourites deposits, fault studies and amplitude versus offset (AVO) analyses and
extended elastic impedance (EEI) studies on seismic data. The financial commitment to undertake the
firm additional work programme is US$350,000.

mmmm.... Nice round figure and confident factual figure/bill? Typhoon?

I imagine sea pulse - not sea crest.

Maybe, the article below seems to suggest this is the case? But italy.. groan! I don't know anything about CAB, however, and thanks for this.. it is really interesting to discover High Power are owned by i-pulse. I imagine Seacrest will call upon Highpower's services to use its typhoon technology in the 12 wells planned?

In exploration situations, meanwhile, the technology acts in a similar way to seismic, producing images of ground formations and importantly what lies within them.

Aitken says Typhoon, the name of the exploration technology, can tell the difference between liquids, gas and water and enhances traditional seismic.

https://www.proactiveinvestors.co.uk/companies/news/197554/high-power-petroleum-s-technology-in-the-spotlight-after-cabot-revival-197554.html

He does come across well. Canada seems a nice earner for Cabot Energy but I wouldn't hold out for Seapulse to be getting involved there. The have said they are targeting a "programme rivals that of many super-majors by number of wells and potential scale and impact of the target prospects". I don't think Cabot's assets are big enough.

Cheers for that, i'll have a look!

"Seapulse has secured the right to participate in these wells and by focusing investment on providing the necessary capital for drilling. The company claims it is addressing inherent industry inefficiencies associated with the traditional farm-in/out processes."

There is the teaser for us GBP holders.. Termination of the farm out mandate at crucial time followed by a vote to increase a share issue for up to 25% which STILL has not been taken up.

Africa Energy were the likely suspects.. but hello!!!! Seapulse :-)

https://www.offshore-mag.com/articles/2018/12/maersk-drilling-joins-seapulse-for-wide-ranging-exploration-campaign.html

Summary

Taking into consideration Sea Pulses business model with Maersk, all licence holders websites, current status, presentations and what little is available on one or two, I have put them into lists of

Nopes!
PEL’s 59, 68, 70, 71, 73, 74, 75, 76, 77, 84, 85, 78, 80, 82, 83, 44, 43, 45, 87, 30, 33, 50, 34, 37, 38, 39, 46, 56.

Maybe’s?
PEL’s 50, 79, 81, 67, 72, 86, 89,

Yes’s!
PEL’s 29, 58, 94,

Those are the licences held on the ministry map Aug 2018

Continuing on from last night using latest map available - http://www.mme.gov.na/maps/

PEL 58 – Nabirm Energy Services – they hold 90% of the licence. Fits in with Sea crest model - Yep

http://www.nabirm.com/

PEL 59 – Lekoil E&P – intending to commence seismic acquisitions within 24 months – Nope

https://www.lekoil.com/namibia-2514a-b

PEL 67, 72, 86 & 89 – Namcor – Not feeling it but possible?

https://www.namcor.com.na/upstream/upstream-activities


PEL 68 – Alumni exp – Onshore – Nope

PEL 70 – ACREP – Onshore – Nope

PEL 71 - Char/Azinam – Nope

PEL 73 – Reconnaissance Energy – Onshore - Nope

PEL 75 – Camelot investment Group – Nope

https://orbisdirectory.bvdinfo.com/directory-OJBJAIAIAIAIBIAIDIJIFIJI.urk

PEL 76, 77, 84 & 85 – No work done – Bankers/investment – Nope

http://www.rhinoresourcesltd.com/

PEL 78 – Servicing company – Lifestyle company - Nope

https://www.globaloilandgasllc.com/who-we-are

PEL 79 – Windfire Petroleum - marijuana to offshore oil in Namibia? Unlikley/Nope?

https://www.offshoreenergytoday.com/windfire-looking-to-buy-offshore-block-in-namibia/

Pel 80 – Methacarb Investments – Onshore – Nope

PEL 81 – Sungu Sungu – Not a lot about them out there, fallen off a cliff? Maybe/nope?

https://www.petroleumafrica.com/sungu-sungu-advances-namibia-exploration/

Pel 82 - Galp/Exxon – Nope

Pel 83 –Galp – Nope

I reached PEL 56 - total/impact... nope :-)

You are welcome to continue!

;-)